Cement maker PT Holcim Indonesia plans to build a 300-million-U.S. dollar factory in the East Java town of Tuban with a capacity of 3 million tons per annum, a local newspaper reported Tuesday.

Holcim President Timothy David MacKay announced the plan on Monday, saying the company is awaiting results from feasibility and environment impact studies before starting the construction in June, reported the Bisnis Indonesia.

MacKay said it would take around three years to complete the construction.

Holcim is the country's third largest cement producer, grabbing a market share of 16 percent with production of 7.9 million tons last year.

Source: Xinhua